Dudley Building Society today reported it made a profit of £704,000 over the past year.

It saw its total assets increase to £316.5 million, up from £313m in 2010.

It represents a growth of 1.13 per cent for the year.

New savings receipts totalled £5.9m for the year, while mortgage advances increased from £25m in 2010 to £37m in the year ending March 31, 2011.

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Dudley Building Society today reported it made a profit of £704,000 over the past year.

It saw its total assets increase to £316.5 million, up from £313m in 2010.

It represents a growth of 1.13 per cent for the year.

New savings receipts totalled £5.9m for the year, while mortgage advances increased from £25m in 2010 to £37m in the year ending March 31, 2011.

The figures helped the society, which has its head office in Stone Street, record a post-tax profit of £704,000.

Chief executive Geoff Caves said: “People have continued to live in the shadow of economic uncertainty during the year and scrutiny on banks and financial organisations has remained at the fore.”

He added the organisation was continuing to grow and strengthen its position.